Blockchain and AI will probably help Web3 expand and ensure that its features meet user needs and expectations.
The global Web3 space is on the rise and so is its usage. In the middle of the growing use, Forbes highlights that AI and blockchain will likely be supportive in Web3 growth and making sure the functions match the user demand.
๐ช๐ฒ๐ฏ๐ฏ ๐๐ฟ๐ผ๐๐๐ต ๐๐ผ ๐๐ฒ๐ฝ๐ฒ๐ป๐ฑ ๐ผ๐ป ๐๐ ๐ฎ๐ป๐ฑ ๐๐น๐ผ๐ฐ๐ธ๐ฐ๐ต๐ฎ๐ถ๐ป
Forbes highlights that combining blockchain technology with artificial intelligence (AI) may be the spark that Web3 adoption needs. Blockchainโs transparent and impenetrable data processing capabilities and AIโs capacity to learn from data and generate predictions can work together technologically to improve the Web3 user experience and lower friction.
For instance, consumers wonโt have to give up control over their data or privacy to take advantage of personalized online experiences like music suggestions based on past listening habits thanks to decentralized AI built on blockchain.
Both blockchain and artificial intelligence (AI) are complementary technologies that each solve an issue the other presents. In the field of artificial intelligence, having access to high-quality data is essential for creating algorithms that are precise and successful. The โgarbage-in; garbage-outโ dilemma states that artificial intelligence (AI) taught on faulty data would inevitably provide faulty outputs.
The โgarbage-in; garbage-outโ issue is lessened by blockchainโs built-in consensus process, which allows nodes to agree on the โtruthโ of data. This protocol allows for the verification of data integrity, validity, and accuracy.
๐ช๐ฒ๐ฏ๐ฏ ๐ง๐ฒ๐ฐ๐ต๐ป๐ผ๐น๐ผ๐ด๐ ๐๐
๐ฝ๐ฒ๐ฐ๐๐ฒ๐ฑ ๐๐ฟ๐ผ๐๐๐ต
The size of the worldwide web 3.0 market was anticipated to be worth USD 2.18 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 46% from 2023 to 2032 when it is expected to reach approximately USD 65.78 billion. The rise of the metaverse is driving the web 3.0 business.
People are using Web 3.0ย blockchainsย to safeguard their data and put an end to concerns about security and privacy from third-party suppliers as the idea of data ownership becomes more and more popular. Thus, the market CAGR is being driven by this aspect.
